United Group Insurance

Deere reports doubling of earnings

Ag/Outdoor, News

November 24th, 2021 by Ric Hanson

(Radio Iowa) – Iowa’s largest manufacturing employer is issuing a stellar financial report, after just emerging from a major labor dispute. Quad Cities-based John Deere reports 4th quarter net income of nearly one-point-three billion dollars compared to 757-million a year ago. Deere also shows its fiscal-year-end net income of almost six-billion dollars. That’s more than twice the two-point-seven billion with which it ended the last fiscal year. Last week, the U-A-W ended its 35-day strike against Deere and the new contract includes immediate ten-percent raises. Deere announced Tuesday all salaried workers are getting eight-percent raises.